30/12/2023
We are reaching out to share an exciting opportunity with SIP IT, our cocktail bar situated in the heart of the Bay. Our journey began as a passion project, driven by the lack of cocktail bars in the area. It was more a labour of love than a commercial endeavour, and we have cherished every moment of it.
We opened SIP IT exclusively on weekends, focusing predominantly on our crafted cocktail menu, while offering a limited selection of food. Our commitment was to provide a casual and inviting space where people could relax and enjoy quality drinks.
However, this year has brought significant growth in our primary business, leaving us with limited time to devote to the bar. We believe SIP IT is a fantastic prospect for an individual or a team passionate about the hospitality industry and looking to embark on their own venture.
One of the key features of SIP IT is its fully equipped kitchen, which remains largely underutilised as food was only 1% of our turnover. This presents a significant opportunity for expansion. The new owner can enhance the barβs offerings by introducing a more extensive food menu, leveraging the kitchenβs capabilities.
Moreover, there is additional potential for growth by extending the operating hours beyond just weekends. Expanding to additional weekdays can tap into a broader customer base, thereby potentially increasing the barβs sales and profitability significantly.
Our turnover in the last 12 months was $263,000. The rent is $4,308 per month, and outgoings are $1,353. The rent bond is $15,000.
If you have a vision for running a cocktail bar or restaurant and are interested in this unique opportunity, we would be delighted to discuss it further.
We look forward to hearing from you.
Thanks
Lukas